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November 8, 2011
22:41 • 1 year ago
November 1, 2011
21:31 • 1 year ago
Greek officials OK referendum plans: Like we said earlier (sarcastically, kinda), the stock market doesn’t like democracy. Democracy often goes against the best interests of investors. It’s messy. It works in ways that don’t always work in the best interests of the people who vote for it. But you gotta give people the opportunity to take advantage of the democratic system. No matter how much it hurts. That’s what Greece will go through very soon. Democracy. Don’t like it? Take an Alka-Seltzer and give yourself five minutes to get in a happy spot.

Greek officials OK referendum plans: Like we said earlier (sarcastically, kinda), the stock market doesn’t like democracy. Democracy often goes against the best interests of investors. It’s messy. It works in ways that don’t always work in the best interests of the people who vote for it. But you gotta give people the opportunity to take advantage of the democratic system. No matter how much it hurts. That’s what Greece will go through very soon. Democracy. Don’t like it? Take an Alka-Seltzer and give yourself five minutes to get in a happy spot.

10:25 • 1 year ago

  • cause In a surprising move that threw off the entire world market, Greek Prime Minister George Papandreou said that he would put the country’s aid package up to a public referendum.
  • reaction Stocks worldwide reacted to the news poorly, including the U.S., which fell by more than two percent. The markets were already volatile; the danger of Greek default made things even worse. source

March 21, 2011
23:50 • 2 years ago

Oh yeah, that: With all the chaos in Libya and Japan, there hasn’t been much attention paid to what’s happened in Egypt in the wake of President Hosni Mubarak’s ousting. So, here’s the skinny: Over the weekend, the country voted on a referendum containing substantial changes to the country’s Constitution. Both of the country’s two major political parties, the National Democratic Party and the Muslim Brotherhood, supported the changes, which passed with 77% of the vote. Now, it has to pass a parliamentary vote, which could come as early as September. But what was actually in it, and how is it playing out in Egypt?

  • Limits on the Presidency In addition to reducing the length of presidential terms from six years to four, the new Constitution, if adopted, will instate a two-term limit for future presidents (Mubarak led for thirty years). Also, it requires the President to select a deputy within thirty days of assuming office, and bars anybody under 40 from running for President.
  • High Voter TurnoutBack in the Mubarak days, many Egyptians thought leaders rigged the elections, so there wasn’t much of an impetus to vote. This time, 41% — or 18 million people — came out to vote. Not staggeringly high, for sure, but nothing to sneeze at, either. If anything, this turnout bodes well for the prospects of a democratic Egypt.
  • Mixed Reactions Some pro-democracy groups are upset that the reforms didn’t go far enough. Activists claim the changes will benefit the two major parties, and some want to tear up the constitution and start over. Perhaps. Even so, the referendum’s passage seems — tentatively — like a good step towards rebuilding the country. source

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March 19, 2011
15:52 • 2 years ago
Went 2 vote w family attacked by organized thugs. Car smashed w rocks. Holding referendum in absence of law & order is an irresponsible act.
Egyptian opposition figure Mohamed ElBaradei • Explaining what happened to him today as he attempted to vote in a referendum on the constitution. While ElBaradei’s brother confirms the Nobel laureate was attacked, the Egyptian military denies the incident. “There have not been any incidents of violence or clashes,” said spokesperson Major Alla al Iraqi. ”Any minor arguments I witnessed between those who were voting yes or no were resolved between one another. Today, has been a model for democracy.” source (viafollow)
February 14, 2011
14:57 • 2 years ago
 

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